China's Zhengzhou Commodity Exchange (ZCE) will allow foreign investors to trade PTA futures on a trial basis in an effort to promote internationalization of the futures product.
As one of the important organic raw materials, PTA is used to produce polyester filament yarn, polyester staple fiber and thin film and is widely used in the fields of chemical fiber, light industry, electronics and building.
At present, China has already become the largest producer of polyester products. In 2014, the global polyester output amounted to 64 million metric tons (tonnes), of which nearly half was produced in China.
The introduction of foreign investors to participate in the futures trading will help domestic and overseas enterprises cooperate better, optimize structure of the market participants and further stabilize influence of the PTA futures in the international market, said Qin Quanjin, deputy general manager of the ZCE.
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